The Caisse de dépôt et placement du Québec is investing $200 million in Boralex as part of a financing deal completed alongside Fondaction.
The investment partner will contribute $50 million to the unsecured subordinated loan transaction with a maturity date of June 27, 2033. The Caisse has been a significant shareholder in the renewable energy production firm since 2017, said Jérôme Marquis, the Caisse’s managing director and head of private credit, in a press release.
“By doubling our existing debt financing with this transaction, we reaffirm our confidence in Boralex’s execution capacity and continued growth, both in Quebec and internationally.”
The Caisse is also buying a hyperscale data centre developer in a deal worth $5.8 billion. The acquisition of Yondr Group from Cathexis Holdings L.P. is being completed alongside DigitalBridge Group Inc.
In other news, the British Columbia Investment Management Corp. is investing in the inaugural bond issuances by Stonlasec8 Indigenous Alliance Limited Partnership. The financial details of the transaction weren’t disclosed.
According to a press release, the senior and guaranteed bonds will enable the Stonlasec8 consortium to invest approximately $736 million for a 12.5 per cent equity interest in the Westcoast natural gas pipeline system.
Read: CPPIB sells private equity fund interest portfolio, BCI joins group investing in insurance firm
“Through this primary bond market participation, [the] BCI’s investments fund tangible economic benefits for Indigenous Peoples,” said Daniel Garant, executive vice-president and global head of public markets at the BCI, in the release.
The Public Sector Pension Investment Board is creating a strategic partnership to invest in the single-family rental house market in Germany. The partnership is being completed with the alternative asset management arm of Goldman Sachs Group Inc.
The partnership is initially targeting €550 million of equity for the investments of the joint venture, with a target of roughly 3,000 homes for the portfolio and a total investment capacity of €1.2 billion. PSP Investments is contributing 90 per cent of the capital while the remaining amount and investment manager services will be provided by Goldman Sachs Alternatives.
“We believe in the long-term fundamentals of the German residential market and are confident that Goldman Sachs Alternatives’ local platform and disciplined approach will create lasting value,” said Stéphane Jalbert, managing director and head of Asia-Pacific and Europe real estate investments at PSP Investments, in a press release.